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#321 battleship

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Posted 27 May 2015 - 05:19 PM

NEWS at last...............

 

They have regurgitated the same cautionary as 25 November as repeated over and over again.......

 

AGAIN


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#322 ajax

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Posted 23 May 2015 - 09:38 AM

Will this be an advertisement soon, FOR SALE....not used at all was bought for R10,000,000 now only R1 bargain! More detail in Afdawn Interim Report 28 November 2014. (sorry no guarantees) 

  • Ownership of the market presence to which entrepreneurs are drawn through the education activities of Knife Capital;
  • The opportunity that this market presence presents to attract entrepreneurs whose businesses have good investment potential  for Afdawn;
  • The opportunity presented by the Grindstone activities to screen for businesses with good investment potential;
  • The opportunity to make a step change in Afdawn's brand reputation in a manner that would contribute to Afdawn realizing its new vision; and
  • Capabilities that, by virtue of how they are managed in an integrated way, will contribute meaningfully to Afdawn realizing its new vision.
 

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#323 ponzi

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Posted 23 May 2015 - 09:23 AM

Very interesting KvZ on CNBC Africa - he is a 'partner' in Knife Capital? Thought they sold the company to Afdawn! When asked if they have made any great investments over the past 12 months he said that they have invested in Flight Scope and moved the HO to Florida.... Really Mr van Zyl? You are not a shareholder in Flight Scope at all. Henri Johnson will be amazed to find out that he has a mystery shareholder who actually moved his company to Florida..... (why the bull?)

On the same topic a 'nice' touch from Me Andrea Boehmert; Question/tweet by Mike Mclaren "is this the philosophy applied in your capacities as board members of Afdawn amidst mounting misinformation"

Andrea Boehmert ‏@AndreaBoehmert May 20 @MikeMac99 "far too complex to answer in a tweet...".
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#324 ajax

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Posted 20 May 2015 - 07:28 PM

You must admit that KC and JG has done a great job of getting rid of the 'old wood' (vd Merwe and other) and taking control, they feel that with the new Fund Manager flamboyant approach they will add value for shareholders; I don't see it. Why did MvdM after underwriting the RI left in a hurry? He at that stage held about 10% shares in the company, what was so unbearable to take a knock and go (pushed to go)? Who is the common denominator in the Elite spectacle? JG; relationship with Sandown, set up SPV, Chairman of Elite now CEO of Afdawn....and now disaster. He has also done the Knife Capital DD for a handsome fee.....
But you are right in a few months we will know, I think the Corporate Advisors will pressure for transparency
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#325 Staghorn

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Posted 20 May 2015 - 04:11 PM

Welcome back Taurus!


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#326 Taurus

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Posted 20 May 2015 - 03:53 PM

All this smoke and mirrors. When I looked at my share of a micro lender in trouble I believed that the board at the time (Mac vd Merwe, Christo Wiese and associates) where seriously solving the situation and turn business in the right direction. They asked for more funds to come for better times. But alas they washed their hands clean and passed on the shell with hidden liabilities and left the shareholder to pay the bill. This seems how business is done today. Well I believe in Karma. What goes around comes around. The secrecy and scheming is astounding and time will come to explain. 


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“In order to know how good you are at something requires exactly the same skills as it does to be good at that thing in the first place” 


#327 ajax

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Posted 20 May 2015 - 02:25 PM

I really would like them to speak/write in layman's English.
Have you done transactions; yes or no.
Are you going to do any soon yes or no.
Do you have the resources to do transactions yes/no.
Why don't you announce deals...if you have created value as per your Tweet?
Will the shareholders value be tangible or vague reference to 'owning the entrepreneurial space'(the definition of the intangible assets bought by Afdawn)?
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#328 ajax

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Posted 20 May 2015 - 01:45 PM

A very interesting response from KvZ. It has now been more than 13 months since the KC transaction; shareholders value should be seen in share price? They managed to reduce the market capitalisation from R160 million to R48 million over this period.
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#329 battleship

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Posted 19 May 2015 - 11:10 AM

This is a recent tweet from Junior Buffet to Keet:     

 

Are the problems at ADW going to slow down your planned and future investments?

 

Keet to Junior Buffet:

 

NO to build on @ Knife Cap momentum we need to execute our investments tee'd up and build SH value there while cleaning up ADW.

 

 

 

This doesn't sound like he's in a panic, does it? This may be why the shares are trading this morning at 6c with small volume.

What is not known about SARS, is if the worst case scenario can be paid with existing funds or not. But then again Keet's answer

above shows no panic?


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#330 ponzi

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Posted 18 May 2015 - 08:15 PM

Tweet was from from JG....
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#331 ponzi

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Posted 18 May 2015 - 08:14 PM


14 Jan; Well done to #iKubu and @KnifeCap team this will proof the #GrindstoneXL model is very profitable

Really???
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#332 ponzi

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Posted 18 May 2015 - 08:02 PM

HI BS,

 

Jacques Groenewald has never done any deals in his life before; he forced the KC deal (creative valuing KC) for reasons that are now obvious (he has also received a handsome fee for the flawed Knife Capital DD). With all the degrees there are no business experience or acumen at all. JG also tweeted that the iKubu 'deal' is prove that Grindstone is a very profitable venture; we all know that they chose to ignore the outcome of the so called 'deal'.

 

I know they peep at this forum and two of the Exco actually made comments therefore another challenges lady and gentleman; share with your stakeholders information on the IDC grant. Another case of misinformation IDC do not fund scale-up ventures! Have you received any funding from them? Who then sponsors Grindstone?  

 

They are all fund managers and wanna be entrepreneurs but it has always been OPM. 

 

Well, re the share price it is amazing that anybody is willing to buy at 5 cents? Sellers are making a killing.

 

Come on Board members engage with you owners.....


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#333 battleship

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Posted 18 May 2015 - 06:14 PM

Jacques Groenewal t(the CEO) twitted on 29 Jan 2015

 

Reflecting back on the year,The knife capital acquisition is shaping up to be one on the best investments Ive ever made.

 

 

How misled can the shareholders actually be.And if this investment is one of the best hes ever made,imagine how bad the others are?

 

There are 3 CAs an attorney and a pile of other degrees floating round Afdawns top 8.The SARS thing was years old  then 6 plus months in a SENS cautionary state and then recently a third party could

not tie it up?..........................PATHETIC

 

 

More interesting I thought the price today would close at 4c or below ,but the 6c close surprised me.

 

 


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#334 ponzi

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Posted 18 May 2015 - 10:52 AM

On today's Moneyweb site....  "Among Knife Capital’s most successful investments are Fundamo and iKubu. Fundamo is a specialised mobile financial services provider that Knife Capital sold to Visa in June 2011. More recently, the VC funder sold Stellenbosch-based start-up iKubu to GPS navigation company, Garmin."

 

Who gave Moneyweb this information? KC is an insolvent company (as per Afdawn interims) and never invested any money in any company. This is the type of misinformation that is fed to the market to create a perception of success. They have tried to set up a fund but could not raise any money and then sold the KC shell to Afdawn. If they disagree set the record straight and I will humbly apologise...  

 

As with Elite it is all smoke and mirrors. Why do they keep the SARS cautionary 'alive'?

 

Shareholders have the right to be furious. 

 


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#335 ajax

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Posted 18 May 2015 - 10:32 AM

At the AGM JG' advisor/consultant commented when the King Report was raised that the King Report is not really applicable to smaller companies and that management must have the latitude to do business as they see fit without sharing information with shareholders. Well hind sight is an exact science; they have followed his advice and shareholders are now paying the price. The one thing that is paramount is that they have mislead shareholders and the question is so what? JG categorically stated that Elite was under control also as per the Interim Report.  

 

I said it before the Executive team members have no business experience, capabilities and their integrity is questionable. The Board must take full responsibility for the breakdown in Corporate Governance. The AGM was attended by only one Non-executive Board member (not even the Chairman attended the AGM....).

 

Ponzin made some relevant comments re Elite a while ago which he retracted afterwards, I wonder what that was all about?  


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#336 battleship

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Posted 18 May 2015 - 09:58 AM

In short, the situation is a disgrace!!!!!!!!!!!!!!!


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#337 GDP

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Posted 18 May 2015 - 09:51 AM

Eina!!!! Ran away at 8c so ..............................


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#338 JR7800

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Posted 18 May 2015 - 09:06 AM

And so the blood start to flow in trading. Not how I imagined the start of my Monday morning


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#339 JR7800

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Posted 18 May 2015 - 08:23 AM

Gave them the benefit of the doubt, now time to sharpen the pitchforks and light the fires.

 

Although we as investors love to speculate (sometimes), being looked in the eye at the AGM and lied to does not sit well.

 

Sell all, buy more......?????


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#340 ajax

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Posted 17 May 2015 - 10:33 AM

Is it possible in a very small company such as Elite that management after having spent considerable time to clean Elite up still have no idea what the status of the assets are. The present Elite Executive team and Elite Board took over from the previous Board and management on the 12th August 2014. One must also appreciate that Elite is the major subsidiary.

 

On the 28th November 2014 they announced; "......management focused considerable time and attention on re-structuring Elite in order to improve the prospects of it being sold to a third party. This included re-negotiating various legal arrangements, cost cutting, shortening the duration of the debtor's book and also the negotiation of a repayment plan of the Elite convertible bond. (is this where it stinks the most?)
 
Changes in the micro lending industry and the tough overall economic climate has made it necessary to re-evaluate the provisioning
policy of Elite's receivables. This resulted in a significant further provision being made in the period under review. With Elite disclosed
as a discontinued operation, these additional provisions account for the greatest part of the loss recorded in the discontinued operations for the period." 
 
Can the Board and management be trusted with a next round of 'clean-up'? 
 
Maybe  Adawn should apply for Business Rescue that will ensure independent oversight of what seems to be an out of control situation. While they are busy they might as well relook at the the Knife Capital due diligence and the assets bought by Afdawn. Knife Capital team has experience of the Business Rescue environment as they have mentored Moyo into BR and liquidation?

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